Kremlin Spokesman Says Putin And Saudi Crown Prince Discussed OPEC+ Cooperation, Which Will Continue
Portfolio Pulse from Benzinga Newsdesk
Kremlin spokesman announced that President Putin and the Saudi Crown Prince discussed the continuation of OPEC+ cooperation, as reported by Reuters citing Tass.

December 06, 2023 | 8:22 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
The United States Oil Fund (USO) could be impacted by the news of continued OPEC+ cooperation, which may influence oil prices and thus USO's performance.
The news of continued OPEC+ cooperation suggests stability in oil production policies, which could maintain current price levels or support a gradual increase. However, the direct short-term impact on USO is uncertain as the market has likely already priced in the continuation of existing OPEC+ policies.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
The Vanguard FTSE Europe ETF (VGK) may experience indirect effects from the OPEC+ cooperation talks, as energy prices impact the European economy and market sentiment.
While VGK is not directly tied to oil prices, the ETF represents European stocks which can be influenced by changes in energy costs. The continuation of OPEC+ cooperation might lead to stable or higher energy prices, potentially affecting the European markets and VGK's performance.
CONFIDENCE 65
IMPORTANCE 50
RELEVANCE 40